StockNews.com Downgrades Stoneridge (NYSE:SRI) to Hold

StockNews.com lowered shares of Stoneridge (NYSE:SRI) from a buy rating to a hold rating in a report published on Saturday morning.

Separately, Barrington Research reissued an “outperform” rating and issued a $16.00 target price on shares of Stoneridge in a report on Tuesday, March 4th.

Stoneridge Price Performance

Shares of NYSE SRI opened at $5.37 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.44 and a quick ratio of 1.40. The stock has a fifty day moving average price of $5.18 and a 200 day moving average price of $7.85. Stoneridge has a 1-year low of $4.11 and a 1-year high of $18.57. The company has a market cap of $148.58 million, a PE ratio of -19.87 and a beta of 1.27.

Stoneridge (NYSE:SRI) last issued its quarterly earnings results on Wednesday, February 26th. The auto parts company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.36). Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. The company had revenue of $218.20 million for the quarter, compared to analyst estimates of $207.61 million. Sell-side analysts forecast that Stoneridge will post -0.42 EPS for the current year.

Institutional Investors Weigh In On Stoneridge

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers lifted its holdings in Stoneridge by 4.9% in the fourth quarter. Rhumbline Advisers now owns 48,478 shares of the auto parts company’s stock valued at $304,000 after acquiring an additional 2,274 shares during the period. Geode Capital Management LLC increased its position in shares of Stoneridge by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 619,028 shares of the auto parts company’s stock valued at $3,882,000 after buying an additional 2,543 shares in the last quarter. US Bancorp DE increased its position in shares of Stoneridge by 65.2% in the fourth quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock valued at $43,000 after buying an additional 2,679 shares in the last quarter. XTX Topco Ltd increased its position in shares of Stoneridge by 25.7% in the third quarter. XTX Topco Ltd now owns 13,873 shares of the auto parts company’s stock valued at $155,000 after buying an additional 2,833 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Stoneridge by 27.9% in the fourth quarter. Wells Fargo & Company MN now owns 16,021 shares of the auto parts company’s stock valued at $100,000 after buying an additional 3,490 shares in the last quarter. Institutional investors and hedge funds own 98.07% of the company’s stock.

About Stoneridge

Stoneridge, Inc, together with its subsidiaries, designs and manufactures engineered electrical and electronic systems, components, and modules for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets in North America, South America, Europe, and internationally. The company operates through three segments: Control Devices, Electronics, and Stoneridge Brazil.